Microscopy Market worth 7.39 Billion USD by 2022

The report "Microscopy Market by Product (Microscopes, Accessories), Type (Optical Microscope, Electron Microscope, AFM, STM, NSOM), Application (Semiconductor, Nanotechnology, Electronics), End User (Industrial, Research Institute, Blood Bank) - Global Forecast to 2022", The global microscopy market is expected to reach USD 7.39 Billion by 2022 from USD 5.60 Billion in 2017, at a CAGR of 5.7%. The major factors driving the growth of this market include the favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine. The high growth in developing countries across Asia Pacific and Latin America are expected to provide significant growth opportunities for players operating in the microscopy market in the coming years. In addition, increasing application areas of microscopy and integration of microscopy with spectroscopy are supporting the growth of the market.

Microscopes to hold the largest market share during the forecast period

Based on the product, the microscopy market is segmented into microscopes; and accessories & software. In 2017, the microscopes segment is expected to account for the largest share of the market. The different types of microscopes available in the market include compound microscopes, stereo microscopes, inverted microscopes, phase-contrast microscopes, electron microscopes, scanning probe microscopes, digital microscopes, fluorescence microscopes, and combined system microscopes. The favorable funding scenario for R&D in microscopy and technological advancements in the microscopes are the key factors driving the growth of the microscopes market.

Industries segment to register the highest CAGR during the forecast period

On the basis of end user, the market is classified into industries, academic & research institutes, and other end users. The other end-users segment includes hospitals, diagnostics center, blood banks, and forensic labs. The industries end-user segment comprises biotechnology and pharmaceutical, semiconductor, textiles, mining, and natural resources (such as oil and gas) industries. For industry application, the key players in the microscopy market are concentrating on the development of customized microscope modules and solutions to cater to the needs of various industries, thereby boosting the growth of the industries end-user segment.

North America dominated the microscopy market in 2017

In 2017, North America is expected to account for the largest share of the global microscopy market, followed by, Europe, Asia Pacific, and RoW. This growth can be attributed to the government initiatives in form of funding and grants for microscopy research and favorable regulatory scenario.

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